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Cenovus Energy Inc T.CVE

Alternate Symbol(s):  CVE | CVE.WS | T.CVE.WT | T.CVE.PR.A | CNVEF | T.CVE.PR.B | T.CVE.PR.C | T.CVE.PR.E | T.CVE.PR.G

Cenovus Energy Inc. is a Canada-based integrated energy company. The Company has oil and natural gas production operations in Canada and the Asia Pacific region, and upgrading, refining and marketing operations in Canada and the United States. The Company's segments include Upstream, Downstream, and Corporate and Eliminations. Its Upstream segment includes Oil Sands, Conventional, and Offshore. Its Downstream segment consists of Canadian Manufacturing, and United States Manufacturing. The Company's upstream operations include oil sands projects in northern Alberta, thermal and conventional crude oil, natural gas and natural gas liquids (NGLs) projects across Western Canada, crude oil production offshore Newfoundland and Labrador and natural gas and NGLs production offshore China and Indonesia. The Company's downstream operations include upgrading and refining operations in Canada and the United States, and commercial fuel operations across Canada.


TSX:CVE - Post by User

Comment by oilandgasmickon Jul 29, 2021 9:54am
164 Views
Post# 33620397

RE:CIBC

RE:CIBCA disappointing reaction on the markets but not totally unexpected.

Debt reduction is job #1 in the survival game and it is dropping by about $350M per month. We are already one month into the new quarter with great oil prices so CVE should be sitting right at 12B in debt as of now--that's a 10% drop in debt in 4 months--surely a step in the right direction.

If prices hang in there for another year then next summer the goal of $8 Billion in debt willl have been achieved--not exciting but much more reasonable than the mamoth 13B+ that we had. Some asset sales would sure be nice but hard to say if anything major develops in the next 12 months. My guess is some smaller deals but no market shakers.
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